The Kristaps Porzingis era in New York is officially over, with the power forward leaving the Knicks to join the Dallas Mavericks as part of a seven-player trade.

Porzingis met the Knicks' management on Thursday to express his concern over the direction of a team that holds a 10-40 record this season.

In the wake of the impression he left in that meeting, things escalated so quickly that only hours later there were multiple reports that the Mavericks and Knicks were closing in on a deal that would send Porzingis to Dallas.

The move was then officially confirmed in a media release from the Knicks. They have received Dennis Smith Jr. and the expiring contracts of DeAndre Jordan and Wes Matthews in return for Porzingis, while the Mavs also get Courtney Lee, Tim Hardaway Jr. and Trey Burke as part of the deal.

In addition, the Knicks receive two future first-round picks as compensation from Dallas and, by shedding Hardaway and Lee from their salary cap, create the necessary space to pursue two maximum contract free agents in the offseason.

"As is standard for this time of year, we were exploring various options on potential trades," said Scott Perry, general manager of the Knicks.

"Considering the uncertainty regarding Kristaps' free-agent status and his request today to be traded, we made a trade that we are confident improves the franchise. We thank Kristaps, Tim, Courtney and Trey for their contributions and wish them all the best."

Porzingis is out with a torn ACL and it is unclear if he will return this season. He is expected to be re-evaluated in the next few weeks.